Surging CMF Suggests SEI Crypto Worth $5M Could be Liquidated Soon At $0.68
The post Surging CMF Suggests SEI Crypto Worth $5M Could be Liquidated Soon At $0.68 appeared on BitcoinEthereumNews.com.
SEI crypto chart showed a promising outlook as it appeared primed for further upward movement after a period of consolidation. Trading at $0.6724, SEI demonstrated substantial resilience and buying interest, as indicated by the Chaikin Money Flow (CMF) index, which remained in positive territory above the zero line. This suggested a strong inflow of money into the asset, which is a bullish signal. After a recent rally that took the price from a low of around $0.30 to a high near $0.75, SEI has found interim support at the $0.67 level. – Advertisement – The price action has formed a series of higher lows, which aligns with the ascending trendline visible from early November. This pattern supports the bullish sentiment currently seen in the market. Looking ahead, the next significant resistance was positioned at $0.7555, a level that previously acted as both support and resistance throughout the year. SEI/USDT daily chart | Trading View A break above this could potentially propel SEI crypto towards the $1.00 psychological mark, a level not tested since early 2024. – Advertisement – On the downside, should SEI fail to hold the ascending trendline support, the next substantial support zone lies around the $0.50 region, where previous market structure break (MSB) points may offer some buoyancy. Investors and traders will be closely watching the CMF for any signs of decreasing momentum which could indicate a shift in market sentiment. However, as long as the CMF continued to show more capital entering than leaving, the outlook for SEI remained bullish, suggesting the potential for continued price appreciation as long as the broader market conditions remain favorable. SEI/USDT Liquidation Risk The liquidation heatmap of SEI revealed a critical juncture where price levels were closely watched by traders, especially in the $0.679 to $0.687 zone. At these levels,…
Filed under: News - @ December 1, 2024 4:45 am